Allied bank is one of the oldest banks in Pakistan. It is the 5th largest commercial bank in Pakistan and has over 1400 branches. Apart from core banking activities, it is also an active provider of consumer finance facilities such as auto finance, personal finance, housing finance, etc. The bank is offering personal loan which has been structured to help people in their hour of need. Let us read about the Allied Bank Personal Loan.
The Allied Bank personal loan has an availability limit ranging from Rs.30,000(Thirty Thousand) to Rs.3,000,000/(Three Million). How much you are eligible for depends on several factors such as gross salary and the amount of your existing loans. All banks will calculate your DBR (Debt Burden Ratio) to check how much loan you are eligible for under the Allied Bank loan scheme.
The allied bank personal loan can be availed for 1 – 5 years. The tenure depends on your choice but the bank may consider the risk associated with the transaction and limit it to any tenor less than 5 years.
The basic criteria for eligibility for ABL personal loan include:
Before you apply for ABL personal loan we suggest you gather all your documents including three months’ salary slip, three or six-month account statement, two passport size photographs, valid CNIC, etc. This will help you reduce the loan approval time. The bank may also ask you for utility bills to show proof of residence.
Before you decide which amount is suitable for you under the allied bank loan scheme, we recommend that you use the allied bank personal loan calculator to calculate your monthly instalment. This will help you identify the instalment which you can easily pay every month. To use the calculator, simply go to ABL’s website and click on the personal loan calculator. Fill in your desired amount in the drop box, select your city, select your financing tenure, select mark-up type, and press “compute”. The allied bank personal loan calculator will give you the result for the effective mark-up rate and your monthly instalment.
There are three ways in which you can apply for a personal loan Allied Bank:
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